Zarnow: Two O.C. teens discover they're financially literate

Juhyung Yoon, 17, a senior at Oxford Academy in Cypress, won first place in a 12-week online stock market competition for students sponsored by the Naveen Jindal School of Management at the University of Texas. Yoon doubled his investment, ending with a 98 percent return. SAM GANGWER, ORANGE COUNTY REGISTER

Ask Juhyung Yoon and Frank Hoang how they spent their summer vacations, and they have a story to tell. They didn't have formal jobs – but they both worked. Hard.

In June, each was handed a cool million to invest – and both earned a tidy return on their investments.

They were two of 271 high school students nationally competing in the Top Performer Stock Market Competition run by the Naveen Jindal School of Management at the University of Texas at Dallas.

Yoon of Cypress finished first by earning a 98 percent return on his investment. Hoang of Anaheim finished second, earning a 67 percent return.

Yes, it was virtual money, but they invested in a virtual market that exactly mirrored reality. And the knowledge they gained about investments is valuable and real.

So is the $1,500 each received as a prize. This summer they put their virtual money to work, and it paid off.

Of course, it wasn't easy.

“That first week, I didn't know what to do,” recalls Yoon, 17, who started by buying stocks whose prices were rising. He successfully bought at the top of the market and lost $200,000 in one week.

Then Yoon realized the contest offered four video classes explaining the basics of personal finance and investing. Passing them was worth an extra $200,000 in virtual bucks.

Hoang, 18, by contrast, took the classes first and didn't start trading until July.

He began by using exchange-traded funds. He thought these mutual funds that trade like stocks would be a safer bet.

“I started out at 30th place.”

The two students, who competed against each other with user names, didn't realize until the end that both attended Oxford Academy in Cypress. Yoon is an Oxford senior now; Hoang is a freshman at UC Berkeley.

Juhyung Yoon, 17, a senior at Oxford Academy in Cypress, won first place in a 12-week online stock market competition for students sponsored by the Naveen Jindal School of Management at the University of Texas. Yoon doubled his investment, ending with a 98 percent return. SAM GANGWER, ORANGE COUNTY REGISTER
Juhyung Yoon, 17, a senior at Oxford Academy in Cypress, won first place in a 12-week online stock market competition for students sponsored by the Naveen Jindal School of Management at the University of Texas. Yoon doubled his investment, ending with a 98 percent return. SAM GANGWER, ORANGE COUNTY REGISTER
Juhyung Yoon, 17, a senior at Oxford Academy in Cypress, won first place in a 12-week online stock market competition for students sponsored by the Naveen Jindal School of Management at the University of Texas. Yoon doubled his investment, ending with a 98 percent return. SAM GANGWER, ORANGE COUNTY REGISTER

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